VANCOUVER, March 28 /CNW/ - Solitaire Minerals Corp. (TSX-V: SLT) (the
Company) has received final results from its helicopter-borne VTEM (Geotech
Ltd.) geophysical survey on the Mystery Island iron-oxide, copper, gold,
silver and uranium (IOGC) project (see news dated July 5, 2006). This survey
identified a 12 kilometer long magnetic low which is coincident with a large
regional fault on the west side of the Port Radium mining camp. Preliminary
interpretation suggests that this is an expression of a major alteration zone.
This is very significant because this fault bounds the mining camp and has the
same orientation as the faults which hosted the Eldorado Mines and Echo Bay
Mines high grade uranium, silver and copper ore bodies.
Condor Consulting Ltd., recognized experts in the field of airborne
electromagnetics, has been retained to perform a detailed interpretation of
results. This interpretation will guide the next stage of exploration.
The Company continues to study the extensive Kinross technical library
for the Port Radium uranium district which has already produced significant
results for the Company. The technical library includes Echo Bay Mines and
Eldorado Nuclear mine and exploration reports for the entire mining camp in
the Great Bear Lake Region up until 1981 when Echo Bay Ltd. ceased production
and exploration. The Eldorado uranium mine produced 15 million pounds of
uranium and eight million ounces of silver.
Work by Echo Bay Mines in 1981 noted that the geology of Mystery Island
(100% Solitaire interest) is similar to that of Contact Lake mine. Sampling,
by Echo Bay, around the adit located on Mystery Island, returned grades of up
to 16.90% copper and 3.4 oz silver per ton. Sampling, by Solitaire, in 2006 at
a nearby location returned values of up to 2.665% copper, 0.179% cobalt and
0.13% uranium (previously reported January 15, 2007).
The Eldorado and Mystery Island projects consist of approximately
22,717.23 acres, 430 kilometres north of Yellowknife in the Northwest
Territories. The property adjoins and is partly surrounded by the Alberta Star
Development Corp's Contact Lake project. Solitaire and Alberta Star share some
of the underground working of the Eldorado mine of which Solitaire Minerals
owns the most recent historical data.
Mike Magrum, PEng, a qualified person under National Instrument 43-101,
has approved the technical content of this news release.
About Solitaire Minerals Corp.
Solitaire Minerals Corp. (TSX-V symbol: SLT) is a diversified junior
Canadian mineral exploration company with a specific focus on mineral
properties in North America. The Company has assembled a portfolio of precious
and base metal exploration prospects in Ontario, Saskatchewan, Alberta, and
the North West Territories. Solitaire's Ontario properties in the Red
Lake/Birch-Uchi Greenstone Belt include the Baird, Heyson and Chukuni River
Prospects, in which the Company has agreements to earn 100% in, but has not
yet vested its interest. In addition, the Company has entered into an option
agreement with another company, whereby that company may earn up to a 75%
interest in the Baird Property. The Company also has an option to earn 100% in
the Lateral Lake West property located in the Webb township of Ontario. In
Saskatchewan, the Company has signed a purchase agreement to acquire a 100%
interest in the Highrock Lake property and a 90% interest in the Riou Lake
Property located in the Athabasca Basin. The Company has also acquired the
Riou Lake North and South properties in which the company has 100% interest.
In Alberta, the Company has purchased the Ravenscrag property in which the
Company has 100% interest. In the North West Territories, the Company has
purchased the Mystery Island IOCG Property located in the Great Bear Lake area
in which the Company has 100% interest. Also in the NWT, the Company acquired
the Eldorado property located in the Great Bear Lake area in which the Company
has 100% interest.
On Behalf of the Board of Directors
SOLITAIRE MINERALS CORP.
President and Director
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this release. Statements in
this press release other than purely historical information, historical
estimates should not be relied upon, including statements relating to the
Company's future plans and objectives or expected results, are forward-looking
statements. News release contains certain "Forward-Looking Statements" within
the meaning of Section 21E of the United States Securities Exchange Act of
1934, as amended. Forward-looking statements are based on numerous assumptions
and are subject to all of the risks and uncertainties inherent in the
Company's business, including risks inherent in resource exploration and
development. As a result, actual results may vary materially from those
described in the forward-looking statements.
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